Pioneer Natural Resources (NYSE:PXD) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Pioneer Natural Resources (NYSE:PXD) in a research report released on Saturday morning. The brokerage issued a hold rating on the oil and gas development company’s stock.

A number of other research firms have also weighed in on PXD. Truist Financial raised their price target on shares of Pioneer Natural Resources from $238.00 to $278.00 and gave the company a hold rating in a report on Friday, April 5th. Royal Bank of Canada reaffirmed a sector perform rating and set a $279.00 price target on shares of Pioneer Natural Resources in a report on Thursday, April 11th. Susquehanna raised their price objective on shares of Pioneer Natural Resources from $237.00 to $246.00 and gave the stock a neutral rating in a report on Monday, March 4th. Scotiabank raised their price objective on shares of Pioneer Natural Resources from $230.00 to $282.00 and gave the stock a sector perform rating in a report on Thursday, April 11th. Finally, Stifel Nicolaus decreased their price objective on shares of Pioneer Natural Resources from $243.00 to $224.00 and set a hold rating for the company in a report on Tuesday, January 23rd. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $259.00.

Pioneer Natural Resources Price Performance

Pioneer Natural Resources stock opened at $267.22 on Friday. The firm has a fifty day moving average of $248.29 and a 200-day moving average of $237.48. The firm has a market capitalization of $62.43 billion, a P/E ratio of 13.20 and a beta of 1.31. Pioneer Natural Resources has a 52-week low of $196.74 and a 52-week high of $278.83. The company has a quick ratio of 0.72, a current ratio of 0.88 and a debt-to-equity ratio of 0.21.

Pioneer Natural Resources (NYSE:PXD) last released its quarterly earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share for the quarter, missing analysts’ consensus estimates of $5.41 by ($0.13). The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.28 billion. Pioneer Natural Resources had a net margin of 25.28% and a return on equity of 22.42%. Pioneer Natural Resources’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $5.91 earnings per share. As a group, analysts predict that Pioneer Natural Resources will post 20.88 EPS for the current year.

Pioneer Natural Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 4th were issued a dividend of $2.56 per share. The ex-dividend date was Friday, March 1st. This represents a $10.24 dividend on an annualized basis and a dividend yield of 3.83%. Pioneer Natural Resources’s dividend payout ratio is currently 24.70%.

Insider Activity

In other Pioneer Natural Resources news, Director Scott D. Sheffield sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $235.25, for a total value of $2,352,500.00. Following the transaction, the director now owns 462,112 shares in the company, valued at approximately $108,711,848. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Pioneer Natural Resources news, Director Scott D. Sheffield sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $235.25, for a total value of $2,352,500.00. Following the completion of the sale, the director now directly owns 462,112 shares of the company’s stock, valued at $108,711,848. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Scott D. Sheffield sold 7,500 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $252.33, for a total transaction of $1,892,475.00. Following the sale, the director now directly owns 447,112 shares of the company’s stock, valued at $112,819,770.96. The disclosure for this sale can be found here. Insiders have sold 36,766 shares of company stock worth $9,067,373 over the last 90 days. 0.55% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pioneer Natural Resources

Several large investors have recently bought and sold shares of PXD. Hartford Financial Management Inc. raised its stake in shares of Pioneer Natural Resources by 61.1% in the 4th quarter. Hartford Financial Management Inc. now owns 116 shares of the oil and gas development company’s stock valued at $26,000 after buying an additional 44 shares in the last quarter. Sachetta LLC acquired a new position in shares of Pioneer Natural Resources in the 4th quarter valued at $27,000. BluePath Capital Management LLC acquired a new position in shares of Pioneer Natural Resources in the 3rd quarter valued at $29,000. Ancora Advisors LLC increased its position in shares of Pioneer Natural Resources by 77.4% during the 1st quarter. Ancora Advisors LLC now owns 149 shares of the oil and gas development company’s stock worth $30,000 after purchasing an additional 65 shares in the last quarter. Finally, Carmel Capital Partners LLC acquired a new stake in shares of Pioneer Natural Resources during the 3rd quarter worth about $34,000. 80.57% of the stock is currently owned by institutional investors and hedge funds.

About Pioneer Natural Resources

Pioneer Natural Resources Company operates as an independent oil and gas exploration and production company in the United States. The company explores for, develops, and produces oil, natural gas liquids (NGLs), and gas. It has operations in the Midland Basin in West Texas. The company was founded in 1997 and is headquartered in Irving, Texas.